Wednesday, December 17, 2008

Defined Benefits Gets Temporary Government Bailout, Er, Legislation

Defined benefits are a hot topic in Fayette County, GA. Well, it's a hot topic for those responsible citizens who realize what the future holds for the county should our esteemed local commissioners vote to burden the county with it.

For those of you who have been following the ongoing debate, I thought you'd be interested to know the Federal government, yep, the Federal government (that would be Congress) has just unanimously passed The Worker, Retiree, and Employer Recovery Act designed to provide temporary relief to retirees and employers sponsoring defined benefit pension plans. President Bush is expected to sign the legislation into law.

This Act, among other things, addressed the unanticipated increases in pension funding requirements.

Hello, Fayette County! Is anybody seeing the bailout trend? Is anyone listening?

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